GEC Sells Division to ABB
In Small, But Key, Move

General Electric Co. PLC of the U.K. said it sold its electric-meter business for an undisclosed price to Zurich-based ABB Asea Brown Boveri Ltd.

While small, the sale is significant as it is the first divestiture since George Simpson became managing director of the London-based electronics firm in September. Analysts have said Mr. Simpson needs to focus GEC on its core businesses of defense, telecommunications and power generation, and divest other businesses, which range from medical electronics to a joint venture with...